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Spring Air receives financing

By Furniture Today Staff -- Furniture Today, February 3, 2008

Boston — Bedding major Spring Air has received $22 million in new financing from H.I.G. Capital and American Capital Strategies, providing additional liquidity and growth capital for the launch of its 2008 product line.

"This new capital will enable us to propel Spring Air forward, completing our integration and creating the appropriate level of capital to complete our new product launch," said Spring Air CEO Bob Hellyer.

"H.I.G. Capital and American Capital are delivering this new infusion of capital because we believe that the strategy of Hellyer and his management team is exactly the right formula for growth," added Peter Cornetta, a managing director at H.I.G. Capital and Spring Air's largest shareholder. "The industry is responding very well to Spring Air's initiatives."

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Spring Air receives $22 million in new financing

Feb 1, 2008

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